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into the petroleum business and refineries. nigeria, a major producer. why have you done that? and why did it take you so long? >> well, thank you very much. first of all, we try as much, first of all, to avoid dealing in oil, because, you know, the impression is that once you are dealing in oil, you are dealing in corruption, you are dealing in a lot of things. we wanted to make through the real industry, you know, by growing our industries in foods, mainly, also in mines. our company has grown that we believe that, look, today, almost the -- the only work in rye finerieses in africa is in two countries, one in south africa, and the one in cotedivoire. and the best way for us to help africa is to make sure not only we make nigeria the subcontinent in times of products, because almost 95% of the petroleum products that are imported into the subso hairen continent, and we think we cannot continue with that, especial will i with the population growth. so we decided to do a refinery. we've increased it go to 500,000 barrels a day, with a pet roe chemical complex. >> if anyone can revolutionize that p
about other emerging markets. should i invest in nigeria or banks in the middle east for example? where are you putting money at all in that? we are. but carefully. one moust look at how demographics are emerging in markets. they allow you to divers fi more broadly. gold real estate and cash. >> how much of your assets are in gold right now. we are in 3 and 4%. we think people should have gold as some time. there is a risk if the fed should start to decline long-term real interest rates will gain and that will be bad for gold. we have active versus passive management. you are moving stuff around the world all the time. about a shird of your money is in this active piece of your money. >> we believe in passive management. we believe the etf's do a good job. which class do you want to be in? >> thank you for being with us. biggest etf adviser in the united states. >> back to you. we are just over an hour into trading. let's send it over to don chu. >> apple shares you can see they are up 3% and that is after an 8% move karl back over tow. >> when we come back your chance to get in on the
Search Results 0 to 1 of about 2